HOUSTON, Dec. 18, 2015 (GLOBE NEWSWIRE) — Vanguard Natural Resources, LLC (NASDAQ:VNR) (“Vanguard”) has declared a cash distribution attributable to the month of November 2015 of $0.03 per common unit ($0.36 per unit on an annual basis) payable on January 14, 2016 to common unitholders of record on January 4, 2016. This distribution level represents an approximate 75% reduction from the $0.1175 per common unit monthly distribution ($1.41 per common unit on an annual basis) paid last month. Based on yesterday’s closing price of $2.89, the new distribution provides a current yield of 12.5%.

Vanguard has also declared cash distributions for its 7.875% Series A Cumulative Redeemable Perpetual Preferred Units (NASDAQ:VNRAP) of $0.1641 per unit, its 7.625% Series B Cumulative Redeemable Perpetual Preferred Units (NASDAQ:VNRBP) of $0.15885 per unit, and its 7.75% Series C Cumulative Redeemable Perpetual Preferred Units (NASDAQ:VNRCP) of $0.16146 per unit, all payable on January 15, 2016 to unitholders of record on January 4, 2016.

Scott W. Smith, President & CEO of Vanguard commented, “Given the current commodity and capital markets environment, we believe the most prudent strategy is to reduce the cash distribution payout on our common units. Lowering the common unit distribution from $1.41 annualized to $0.36 annualized reduces the cash required for distributions from approximately $185 million to $47 million. Excess cash flow that is generated by this action will be directed at paying down debt under Vanguard’s revolving credit facility and is expected to result in significant distribution coverage in both 2016 and 2017 based on current commodity strip prices. We believe it is in the best long-term interest of the Company to redirect our excess cash flow in this manner and better position Vanguard when a commodity price recovery occurs in the future.”

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About Vanguard Natural Resources, LLC

Vanguard Natural Resources, LLC is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties. Vanguard’s assets consist primarily of producing and non-producing oil and natural gas reserves located in the Green River Basin in Wyoming, the Arkoma Basin in Arkansas and Oklahoma, the Anadarko Basin in Oklahoma and North Texas, the Permian Basin in West Texas and New Mexico, the Big Horn Basin in Wyoming and Montana, the Piceance Basin in Colorado, the Gulf Coast Basin in Texas, Louisiana and Mississippi, the Williston Basin in North Dakota and Montana, the Wind River Basin in Wyoming and the Powder River Basin in Wyoming. More information on Vanguard can be found at www.vnrllc.com.

Forward-Looking Statements

We make statements in this news release that are considered forward-looking statements within the meaning of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management’s assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this news release are not guarantees of future performance, and we cannot assure you that such statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to factors listed in the “Risk Factors” section in our SEC filings and elsewhere in those filings. All forward-looking statements speak only as of the date of this news release. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.

This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Vanguard’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Vanguard’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.